Penny stocks are defined as stocks that trade for $5 or less, and traders either love them or hate them. Although they are known for their volatility, the potential for quick and massive profits has garnered penny stocks a lot of love in the markets. The ability to generate double- or triple-digit gains in a very brief period allows traders to remain liquid and not have their cash tied up for long periods of time.
However, finding the top penny stocks among the thousands in the markets can be a challenge. Luckily, we have put together a list to assist investors to find potential opportunities for quick profits. We’ve nominated the top 5 penny stocks to watch in April 2019 and here they are. Drumroll please…
Top Penny Stock Number 5
Riot Blockchain Inc. (RIOT Report) is focused on building, operating, and supporting blockchain technologies. Its primary operations consist of cryptocurrency mining, targeted development of a cryptocurrency exchange, and the identification and support of innovations within the sector.
Shares of this penny stock soared 45% in the first week of April following the announced filing of its filing of its 2018 Annual Report on Form 10-K. Coincidently, shares of the penny stock may have seen a boost in sympathy with Bitcoin (BTC) which jumped to a 5-month high.
This is an example of how keeping an eye out for headlines and penny stock news is important when considering which penny stocks to buy, which brings us to our next stock on the list.
Top Penny Stock Number 4
Plug Power Inc. (PLUG Report) is a leader in providing energy solutions and creator of modern hydrogen and fuel cell technology, Plug Power replaces lead acid batteries to power electric industrial vehicles.
PLUG shares jumped 51% in the week following the report of its Q4 and year end results in March. The company beat analysts’ estimates on revenue and reported quarterly rose 84.48% to $62.1 million, compared to the year prior. This penny stock also got a further boost on reinitiated coverage from B. Riley of a buy rating and price target of $3.50, taking this hot penny stock to new 52-week highs.
Double-digit gains are great, but the best penny stocks come generate triple-digit gains too.
Top Penny Stock Number 3
Trovagene, Inc. (TROV Report) is a clinical-stage oncology therapeutics company, using a precision medicine approach to develop drugs that target cell division. Trovagene’s first-in-class star candidate, onvansertib, is under clinical evaluation in six different areas.
Following the circulation talk among traders of an FDA abstract document for the company’s prostate cancer treatment in the beginning of March, this penny stock skyrocketed 134% literally overnight.
Although TROV was unable to hold onto these gains, these are the type of events that have the potential to send a penny stock to new highs. Most recently, TROV updated data from its ongoing Phase 1b/2 study evaluating onvansertib in combo with chemotherapy in Acute Myeloid Leukemia and saw a 34% pop on the day.
Positive clinical trial news and FDA approval are catalysts known for sending penny stocks soaring, keep an eye out for those.
Top Penny Stock Number 2
ChinaNet-Online Holdings, Inc. (CNET Report) is an integrated online advertising, precision marketing, data-analysis and management services platform in the People’s Republic of China. Positive talks regarding a U.S. China trade deal have been circulating the markets, which in turn provided a boost to several Chinese companies.
CNET comes with a history of making big moves, and this penny stock’s share price has gained 44% in the first week of April. Should trade talks remain positive this may spike even further, or if a deal is made this penny stock could explode.
Top Penny Stock Number 1
Yangtze River Port and Logistics Limited (YRIV) is an international infrastructure company that engages in the business of real estate development via a port logistic project located in the middle reaches of China’s Yangtze River. YRIV has traded record volume in the first week of April.
Similar to our Number 2 penny stock on ist, the potential for a trade agreement between the U.S. and China has skyrocketed this penny stock a massive 239% in the first week of April. With momentum at peak levels, a trade deal could serve as a major catalyst for a continued move even higher.